Altimeter, an investor in OpenAI, plans to raise over $3 billion for private equity funds

On November 10 that, according to Bloomberg, well-known investment firm Altimeter Capital Management, a key investor in OpenAI and Anthropic, is raising a series of new funds for its private markets investment business. According to securities filings and people familiar with the matter, the firm plans to establish a $2.5 billion venture capital fund to invest in late-stage, pre-IPO companies. Altimeter is also in discussions to raise approximately $800 million to $900 million for a new venture fund that will invest in a more diversified group of younger startups.

People familiar with the matter noted that Altimeter previously participated in the financing rounds of multiple late-stage companies, including OpenAI and Anthropic, through its prior growth fund (which completed fundraising last year at a size of $1.6 billion) and a $1.5 billion expansion fund.